Med-tech trade group LifeScience Alley has teamed up with the Food and Drug Administration to create a public-private partnership focused on the regulatory approval process for medical devices. The organization, called Medical Device Innovation Consortium (MDIC), will be led on an interim basis by Maura Donovan, vice president of therapy research and development at Fridley-based Medtronic Inc. (NYSE: MDT). MDIC aims to develop tools that will help med-tech companies and the FDA more quickly evaluate whether products are safe to bring to market. The group also aims to “improve the timeline of availability” of products, LifeScience Alley said in a press statement.